Investment from existing investors Salesforce Ventures, Felicis and Novel TMT to accelerate the growth of its Modern POS business
PredictSpring, a leader in omni-channel commerce and modern POS technology, today announced that it has raised $16 million in Series B funding, taking its total funding to date to $32 million. Existing investors Salesforce Ventures, Felicis and Novel TMT Ventures participated in the round. PredictSpring will use the new funding to accelerate the growth of its omni-channel business and grow its R&D and go-to-market teams.
The additional funding will support PredictSpring’s mission to continue its innovation and pioneering approach to omni-channel commerce and redefine the in-store experience for consumers and store associates. PredictSpring Modern POS is a leading solution in the retail industry and supports a broad array of verticals, including apparel and footwear, luxury, health and beauty, jewelry and watches, winery and liquor stores, home furnishing and decor, and telco.
“This funding round enables us to expand on our already successful Modern POS business, and provide brands and retailers with innovative omni-channel solutions that further improve the consumer experience and drive sales.”
PredictSpring Modern POS is a mobile-first, omni-channel-enabled, customer-centric version of a POS for the retail industry. The company has seen 100% plus year-over-year ARR growth in its Modern POS business over the last three years and has grown payments transaction volume processed through its Modern POS platform by 455% year-over-year. PredictSpring Modern POS is deployed on thousands of terminals in 25 countries, powering the omni-channel experience for global retail brands.
“In the last three years, we have seen an accelerated transition from decades-old legacy retail POS systems to modern POS platforms across the board in the retail industry,” said Nitin Mangtani, Founder and CEO of PredictSpring. “This funding round enables us to expand on our already successful Modern POS business, and provide brands and retailers with innovative omni-channel solutions that further improve the consumer experience and drive sales.”
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PredictSpring Modern POS Key Features
- Full POS and mPOS – PredictSpring Modern POS is deployed both as a fixed POS with cash drawer and printer as well as an mPOS device running on an iPhone or iPad.
- Clienteling – Customer 360, loyalty integration, curated product collections, and 1:1 customer communication.
- Omni-channel Commerce – Support for endless aisle, buy online return in-store (BORIS), buy online pickup in-store (BOPIS), and buy online fulfill in-store (BOFIS).
- Remote Selling – Ability for associates to sell remotely using Pay By Link feature.
- QR Code-Based Payments – Multiple payment options using QR codes to transact via digital wallets, third-party payment platforms such as WeChat Pay and Alipay and buy now, pay later options such as Klarna and Affirm.
- Inventory Management – Support for real-time inventory visibility across all channels, inventory receiving, cycle counting, RFID, store transfers, and inventory adjustments.
PredictSpring Modern POS is available in 25 countries including US, UK, Canada, Australia, South Korea and has achieved fiscal compliance for POS software in European countries including France, Austria, Italy, Portugal, Germany, and in Mexico.
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